Shareholders oust entire board of Dish TV

Shareholders of Dish TV India Ltd rejected the candidature of its remaining four independent directors, a rare instance at a listed company that found itself without a functional board for a brief while.

Over 71% of shareholders voted against appointing Rajesh Sahni, Virender Tagra, Aanchal David, and Shankar Aggarwal at Friday's extraordinary general meeting (EGM), the country's third-largest satellite television provider said in a stock exchange disclosure.

Subsequently, Dish TV appointed Sanjay Khanna as non-executive independent director and Ravi Bhushan Puri as executive director. Both were named by the board on December 18, likely in anticipation of an upset at the upcoming EGM.

Khanna and Puri were inducted before approval from the ministry of information and broadcasting, which is mandatory for directors of all television broadcasters. However, Dish TV managed to induct the two as its board strength fell below the statutory minimum requirement of three members.